OSPE - The Voice - September 2016 - Cover3
what's ailing the self-employed?
How health and disability insurance can help
The Self-Employment
Challenge
Being your own boss has its perks. But without an employer's group benefits,
self-employment also means fending for yourself in case of illness or disability.
Over two-thirds of surveyed selfemployed individuals are concerned
about their lack of access to medical
coverage and insurance.1
The Role
of Insurance
8 in 10 Canadians are concerned about
the government's ability to fund health
care, the cost of longterm care, and
having enough money if they become
disabled or seriously ill.2
Supplementary health and disability income insurance plans help protect
against financial loss due to illnesses or accidents.
Why health insurance?
Canadian families are spending an increasing share
of their household income on health care.3
Households in the 3 top income quintiles had
an average:4
* 39% increase in dental spending
* 24% increase in prescription drug spending
Engineers CanadaSponsored
Insurance Plans
Why disability insurance?
* 1 in 3 people will be disabled for 90 days or more at
least once before they reach age 65.5
* 49% of bankruptcies and mortgage foreclosures are
due to disability.6
* A disability of over 90 days is likely to last three
years or more for a 35-year-old man or woman, and
four years or more for a 45-year-old man or woman.7
Exclusive to professional engineering, geoscience and technology association
members and their families, at low rates not available to the general public.
Health & Dental Insurance covers both routine
and unexpected medical expenses, such as:
* Prescription drugs
* Dental care
* Eye exams and eyeglasses
Disability Income Replacement Insurance
covers 6 types of disabilities and includes
the following at no extra cost:
* Compassionate care benefit
* Automatic Cost of Living Adjustments
* Waiver of premium
They're more affordable than you think
manulife.com/OSPE/DI | 1-877-598-2273
1 Human Resources and Skills Development Canada: 2006 Survey of Self-Employed Individuals: Perceptions of Benefit Coverage, May 2006.
2 Canadians at Financial Risk: 2013 Canadian Life Insurance Ownership Study Highlights, LIMRA, 2013.
3 Chaplin R, Earl L. Household spending on health care. Health Reports 2000; 12(1): 57-65.
4 Statistics Canada: Trends in out-of-pocket health care expenditures in Canada, by household income, 1997 to 2009 (April 2014).
5 Canada Life and Health Insurance Association, A guide to disability insurance, November 2012.
6 Get Sick, Get Out: The Medical Causes of Home Mortgage Foreclosures. Health Matrix: Journal of Law-Medicine, Vol. 18, No. 65, 2008.
7 Disability Insurance: Where Will the Money Come From If You're Disabled? Canadian Life and Health Insurance Association, January 2004.
Underwritten by The Manufacturers Life Insurance Company. Manulife and the Block Design are trademarks of The Manufacturers Life Insurance Company and are used by it, and by its affiliates under license.
©2015 The Manufacturers Life Insurance Company (Manulife). All rights reserved. Manulife, PO Box 4213, Stn A, Toronto, ON M5W 5M3.
The Manufacturers Life Insurance Company
http://www.manulife.com/OSPE/DI
Table of Contents for the Digital Edition of OSPE - The Voice - September 2016
Table of Contents
Table of Contents
OSPE - The Voice - September 2016 - Cover1
OSPE - The Voice - September 2016 - Cover2
OSPE - The Voice - September 2016 - Table of Contents
OSPE - The Voice - September 2016 - 4
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OSPE - The Voice - September 2016 - Cover3
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